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AnnuityRatesThe term “Variable Annuity” is one of the basic kinds of annuity in general.  It’s a kind of contract you enter with an insurance company whereby you purchase the company’s deal while the company agrees to make periodic payments to you.  The payments can be made at an agreed future date or immediately as you may choose.  You can purchase the annuity contract as a series of purchase payment or single payment as well.

Variable Annuity gives you a wide range of investment options with diverse values. Oftentimes, the value of the investment depends on its performance over a period of time.  You can invest in a number of variable annuity offers such as bonds, stocks, money market instruments and so on. You can even invest in a number of options at the same time.

Variable Annuity is very unique in diverse ways.  You can be receiving periodic payments all through the days of your life if you desire that.  You can even extend the payment to your spouse or any other beneficiary   when you’re gone. Hence, you won’t lose your assets even when you depart from this world.

There’s also a death benefit option attached to Variable Annuity.  If for instance you die before the insurance company begins to make the agreed payments, there’s nothing to worry about.  Your beneficiary will still be paid the said amount on agreed dates.

Again, Variable Annuity is task deferred.  You’re not expected to pay any tax on the income and the gains you receive from the investment until you’re set to make cash withdrawal.  You also have the freedom to transfer your money from one investment plan to the other without paying any dime in tax when you carry out the transaction.

In any case, you’re expected to be taxed when you take your money out of a variable entity plan.  You’ll be taxed on your earnings at income tax rates.  If you happen to hold your investment for too long, you’re sure to gain more since no tax will be demanded until you’re ready to make cash withdrawal.

Meanwhile, it’s important for you to know that variable annuities do well as long-term investments.  In fact, they are designed to be long term investments with the hope of meeting   the need of your retirement   period and other long-range goals.  You won’t gain much if you decide to hold the investment for a short-term.  This is because; insurance charges and   substantial taxes may apply if you decide to make early cash withdrawal.

To be on a safe side, you need to take time to invest in Variable Annuity.  You need to locate reliable insurance companies you can work with. Actually, there are many of such companies all over the US. You can locate them in every state you’re residing. You need to take time to discover the various investments offers such insurance companies are offering before you make any decision. There’s also the need to engage the services of a financial adviser to help you in choosing the best kind of annuity that can pay you.